Gold consolidation between $1,780 – $1,800

The upward movement of gold prices has reached the daily SMA 200. There is no breakout yet and the price seems will close the week inside the $1,780 – $1,800 area. Traders will continue waiting for either breakout and close above daily SMA 200 or major bearish rejection from the $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800, $1,850

Silver consolidation inside the yellow box area

Silver prices have reclaimed the yellow box area and managed to print bullish close yesterday. The price is expected to continue trading inside the box area, for now, waiting for a breakout from it. The same as the previous day’s analysis, if the price could close above the yellow box area then silver prices could continue upward to target the $25.00 – $26.00 area. On the other hand, a close below $25.00 could trigger a bearish continuation.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil extend bullish movement

Crude oil prices are trading upward and soon will reach the $82.72 resistance level. There is no change to the current bullish sentiment as the supply disruption has not been solved. Traders could expect further upside movement in the price for the medium-long term. Under the current situation, the only strategy traders could take is long positions when a bearish correction toward support level happens.

Today critical level to watch:

Support: $77.13, $70.00, $67.20

Resistance: $82.72